Currently, over 500 million people listen to podcasts globally. The market for podcasts is predicted to grow nine times, from $27 billion in 2023 to over $234 billion by 2030. Given that listeners finish about 80% of each podcast episode, it should come as no surprise that $4.02 billion will be spent on advertising globally in 2024. The biggest challenge facing podcasters in the midst of this rapid expansion is discoverability.
The largest podcast distribution platform in the world, Podeo, is launching a $5.4 million funding round today to help podcasters get past the discoverability obstacle. The Dubai Integrated Economic Zones Authority’s venture capital arm, Oraseya Capital, spearheaded the Series A funding round. Other participants included Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and Razor Capital, a returning investor.
Podeo provides podcasters with a one-stop shop, simplifying everything from content production and distribution to revenue generation. In a time when audio discoverability is becoming an increasingly difficult task, Podeo’s exclusive distribution integrations go beyond standard streaming apps and provide users access to previously unheard-of exposure on radio stations, in-flight entertainment, ride-hailing services, gaming, and chat apps. With a flourishing community of more than 100,000 creators and a listener base of more than 50 million worldwide, Podeo is breaking down barriers to accessibility and giving independent voices the opportunity to be heard like never before.
Podeo was initially developed as a podcast app with exclusive content by Stefano Fallaha, Anthony Essaye, and Mario Hayek in 2020. However, it soon developed into a revolutionary end-to-end platform. Podeo is reinventing the way podcasts are distributed and monetized by moving away from a destination-first approach and toward a distribution-first one. The forward-thinking founders, who previously founded the timed-podcast aggregator Fallound with support from the organization in charge of the 2022 FIFA World Cup, currently oversee a vibrant team of more than 35 professionals with backgrounds in media, big data, and audio.
With Podeo’s ad-tech, brands can optimize their ad spend and take advantage of unparalleled opportunities for budget efficiency across channels, and creators are given cutting-edge tools to grow and engage unique audiences.
“We are committed to empowering creators to become the next generation of global audio stars, providing them with cutting-edge tools to captivate diverse audiences around the world,” said Stefano Fallaha, Founder and CEO of Podeo. “This Series A funding will allow us to amplify our mission and scale our ecosystem at lightning speed across emerging global markets, making storytelling limitless and giving diverse voices the power to be heard by billions worldwide.”
The growth of independent voices and the constant need for real stories are driving a sea change in the podcast industry. With its game-changing integrations with Dubai Taxis, Anuvu’s airline customers, messaging giant Imo, and Arabic media conglomerate Rotana, Podeo stands as the indispensable platform for creators to reach on-the-go audiences as audio becomes a driving force in media consumption.
MENA has seen a podcast revolution thanks to Podeo, which is at the forefront of offline and on-demand experiences. In just two years, Podeo has increased the availability of podcasts in the region by a factor of 50. Podeo started with 2,000 podcasters and has since revolutionized the sector, resulting in a six-fold increase in revenue over the previous year and giving the top publishers and advertisers in the area the ability to reach untapped audiences at scale.
